Amcor (NYSE:AMCR – Get a score) issued an update on its fiscal 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.80 to $0.84 for the period, compared to consensus earnings per share estimate of $0.84. The company issued revenue guidance of -.
Amcor shares fell 2.1%
AMCR traded down $0.28 during trading on Wednesday, reaching $13.01. The stock had a trading volume of 8,876,465 shares, compared to its average volume of 9,646,814. The stock’s 50-day moving average is $12.52, and its two-hundred-day moving average is $12.16. The company has a current ratio of 1.39, a quick ratio of 0.85, and a debt-to-equity ratio of 1.57. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 2.20 and a beta of 0.75. Amcor has a one year low of $10.66 and a one year high of $13.60.
Amcor dividend announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Thursday, September 8th will be given a $0.12 dividend. The ex-dividend date is Wednesday, September 7. This represents an annual dividend of $0.48 and a yield of 3.69%. Amcor’s dividend payout ratio (DPR) is 77.42%.
Analyst Updates and Downgrades
A number of equities analysts have issued reports on AMCR shares. CLSA began coverage on Amcor in a report on Tuesday, July 19th. They issued a buy rating for the company. Morgan Stanley cut Amcor from an overweight rating to an equal weight rating in a research note on Thursday, August 4th. Finally, TheStreet raised Amcor from an ac rating to an ab rating in a research report on Friday, May 13th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $12.70, according to data from MarketBeat.
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In other news, insider Michael J. Zacka sold 33,500 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $13.16, for a total value of $440,860.00. Following the transaction, the insider now owns 172,270 shares of the company’s stock, valued at $2,267,073.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed this link. Insiders own 0.39% of the company’s shares.
Institutional inputs and outputs
Institutional investors have recently made changes to their positions in the stock market. State Street Corp raised its stake in Amcor by 10.2% during the first quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after buying an additional 10,472,157 shares during the period. Vanguard Group Inc. raised its stake in Amcor by 0.6% during the first quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock valued at $642,887,000 after purchasing an additional 358,145 shares during the period. Invesco Ltd. raised its stake in Amcor by 40.9% during the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after purchasing an additional 7,854,257 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amcor by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,967,874 shares of the company’s stock valued at $271,556,000 after purchasing an additional 1,564,919 shares during the period. Finally, Federated Hermes Inc. raised its stake in Amcor by 951.8% during the 1st quarter. Federated Hermes Inc. now owns 8,641,388 shares of the company’s stock valued at $97,907,000 after purchasing an additional 7,819,836 shares during the period. Institutional investors own 43.56% of the company’s shares.
Amcor company profile
Amcor plc develops, manufactures and sells packaging products in Europe, North America, Latin America, Africa and the Asia Pacific regions. The company operates through two segments, flexible and rigid packaging. The Flexibles segment offers flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack, personal care and other industries.
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